Bristol Gate Capital Partners Inc. Increases Stock Holdings in TELUS Co. (NYSE:TU)

Bristol Gate Capital Partners Inc. raised its holdings in TELUS Co. (NYSE:TU) (TSE:T) by 12.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,706 shares of the Wireless communications provider’s stock after purchasing an additional 6,031 shares during the quarter. Bristol Gate Capital Partners Inc.’s holdings in TELUS were worth $813,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TU. Burgundy Asset Management Ltd. raised its holdings in TELUS by 33.3% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 136,341 shares of the Wireless communications provider’s stock valued at $2,063,000 after buying an additional 34,055 shares during the period. MQS Management LLC raised its stake in shares of TELUS by 437.9% in the 2nd quarter. MQS Management LLC now owns 55,369 shares of the Wireless communications provider’s stock valued at $838,000 after acquiring an additional 45,076 shares during the period. XTX Topco Ltd lifted its holdings in shares of TELUS by 249.0% in the 2nd quarter. XTX Topco Ltd now owns 46,981 shares of the Wireless communications provider’s stock worth $711,000 after acquiring an additional 33,519 shares during the last quarter. Walter Public Investments Inc. boosted its position in shares of TELUS by 1.8% during the 2nd quarter. Walter Public Investments Inc. now owns 37,453 shares of the Wireless communications provider’s stock worth $567,000 after purchasing an additional 653 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in TELUS by 14.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 485,397 shares of the Wireless communications provider’s stock valued at $7,349,000 after purchasing an additional 61,952 shares during the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

Analyst Upgrades and Downgrades

TU has been the subject of a number of research analyst reports. Canaccord Genuity Group cut TELUS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, TELUS presently has an average rating of “Hold” and an average price target of $27.33.

TELUS Trading Up 0.5 %

NYSE:TU opened at $16.86 on Friday. TELUS Co. has a 12-month low of $14.63 and a 12-month high of $19.14. The firm has a market cap of $24.89 billion, a PE ratio of 43.23, a price-to-earnings-growth ratio of 2.57 and a beta of 0.74. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.46. The stock has a fifty day moving average price of $16.23 and a 200 day moving average price of $16.17.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.09. TELUS had a return on equity of 8.50% and a net margin of 3.87%. The business had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter last year, the business posted $0.14 EPS. Sell-side analysts anticipate that TELUS Co. will post 0.73 earnings per share for the current fiscal year.

TELUS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.284 per share. This represents a $1.14 annualized dividend and a yield of 6.74%. The ex-dividend date of this dividend is Tuesday, September 10th. This is a boost from TELUS’s previous quarterly dividend of $0.28. TELUS’s payout ratio is 294.87%.

TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.